Saturday, September 8, 2018

Trump Signals He's Ready to Slap Even More Tariffs on China; Nearly Half a Trillion

President Trump is now considering a total of $467 billion in new tariffs against China.

Trump said Friday he’s willing to slap tariffs on an additional $267 billion in Chinese goods, on top
of duties of $200 billion in imports he is already considering, reports Bloomberg.

The administration will act on the $200 billion “very soon depending on what happens,” Trump told reporters on Air Force One. “I hate to do this, but behind that there is another $267 billion ready to go on short notice if I want.”

This is just terrible news. Any time a country institutes tariffs, it lowers the standard of living for those in the country as it results in less product coming into the country or higher prices for the product.

Apple, for example, lists these products they produce as being products that will be impacted by the first $200 billion in new tariffs:

  • Apple Watch
  • AirPods
  • HomePod
  • BeatsWL
  • AirPort
  • Time Capsule
  • MacMini
  • Magic Mouse and Trackpad
  • Pencil
  • Adaptors, chargers, cables and cords
  • Leather covers and cases for all manner of Apple products

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